Electricity Prices

Mr WILLIAMS (MacKillop) (14:46): My question is to the Minister for Energy. Does the minister agree with the independent advice from ESCOSA that 'the forward price of wholesale electricity in South Australia has increased significantly', and further that 'the spot price of electricity in South Australia has increased significantly since the closure of the Northern power station on 9 May 2016'?

The Hon. A. KOUTSANTONIS (West Torrens—Treasurer, Minister for Finance, Minister for State Development, Minister for Mineral Resources and Energy) (14:47): Yes, I do, and the question that members opposite need to contemplate, while they are so upset about the closure of Northern because of its removal of competitive forces in the state, is: if we had subsidised Northern to stay in the market—

Members interjecting:

The Hon. A. KOUTSANTONIS: —if we had subsidised Northern to stay open under the requirements that Northern were asking to stay open—that is, that regardless of our payment to them, they would retain the right to close that power station with a month's notice—then imagine a situation this summer if Northern was still in the system, knowing what is going on and—

Mr Marshall interjecting:

The Hon. A. KOUTSANTONIS: —let me finish—

Mr Marshall interjecting:

The Hon. A. KOUTSANTONIS: —Northern advised the government on 1 December that they were closing on New Year's Eve? Yes, they will pay us our money back, but what would we pay them to keep them open over the summer period? Again, members opposite can't think moves ahead. They can't see ahead. It's impressive to note—

Mr Marshall interjecting:

The Hon. A. KOUTSANTONIS: The Leader of the Opposition interjected earlier about Victoria's pricing. It's very important to note that Victoria's reset happens on calendar years, whereas New South Wales and South Australia happen on financial years. New South Wales had a price increase of 16 per cent and the ACT had a price increase of 18½ per cent. South Australia had an increase, again for the standing contract offer, of 18 per cent.

It's important to note that these increases are occurring across the entire National Electricity Market and that the forward price in New South Wales, the forward price in Queensland and the forward price across the entire National Electricity Market, is growing rapidly and it is growing because of the lack of any national coherent policy. What is the answer to the forward price in New South Wales being over $100 given it has more coal base load power than any other jurisdiction in the world?

Members interjecting:

The Hon. A. KOUTSANTONIS: Shouting won't change that. Yesterday, the Leader of the Opposition said that we are on the eve of a state election. Where is your energy policy? Where is it? Where is the energy policy? Where is your health policy? Where is your education policy? Where is your transport policy? Where is your public transport policy? Nothing.

Mr Pisoni interjecting:

The SPEAKER: The member for Unley is called to order.

The Hon. A. KOUTSANTONIS: We actually had them say to us, 'Wait for Finkel. Wait for Finkel, then we will release our policy.' Now it's, 'Don't wait for Finkel—

Mr Pisoni interjecting:

The SPEAKER: The member for Unley is warned.

The Hon. A. KOUTSANTONIS: —wait for the federal government.' Now they are saying, 'Wait for the Prime Minister.' Can you have any policies—just one? One policy would be good. While the Leader of the Opposition just tries to shout me down, for all his shouting in the world he has not one policy on energy—not one.

Members interjecting:

The SPEAKER: I will only call the member for MacKillop when the opposition front bench has finished interjecting. Do you have any more remarks?

Mr Whetstone: Hopeless treasurer.

The SPEAKER: Thank you for that. That will cost you a warning, but it was probably worth it. Does the member for Wright have anything to add? No? Member for MacKillop.